Traveloka Taps Brakes on $400 Million SPAC Deal to Go Public
Photo Credit: Fast-growing Traveloka had been due to list through a deal with Bridgetown Holdings. Traveloka
Skift Take
Are special purpose acquisition companies losing their shine? We'll find out more in the coming months as other travel startups plan to go public.
Indonesia’s Traveloka may not go through with a plan to go public by merging with a special purpose acquisition company (or SPAC) after all, according to reports.
The fast-growing travel booking startup had been due to list through a deal with Bridgetown Holdings, backed by PayPal co-founder Peter Thiel and Hong Kong investor Richard Li.
To do that, it was first planning to raise between $200 million and $400 million from investors, a process known as private investment in public equity (PIPE). However, Bloomb
